Metro Denver home prices moved lower in July as both sellers and buyers alike pulled back, according to a monthly update from the Denver Metro Association of Realtors .

The median price of a detached or stand-alone home that sold in metro Denver stood at $650,000, which is down 2.26% from the $665,000 median price seen in June and 0.76% from the median price of $655,000 a year earlier. The average price, which is influenced by more expensive homes, decreased by 4.7% month-over-month and 1.08% year-over-year.

Condos and townhomes, which have seen weak prices for several months, had a median sales price of $390,000 in July, which is down 2.5% on the month and 6% annually. The average sales price of a condo/townhome was $425,192, which is down 4% from June and 6.9% from a year earlier.

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